Tuesday January 15, 09:40 AM
Chemicals group Beiersdorf posts stronger sales, lower profit
BERLIN (AFP) - The German chemicals group Beiersdorf (Xetra: 520000 - news) , which makes Nivea beauty cream and Tesa glue, saw net profit plunge last year but met its sales target and increased its operating result, the group said Tuesday.
Beiersdorf posted a net profit of 442 million euros (655 million dollars), down from 668 million euros in 2006, when it was boosted by a one-off asset sale gain, according to a statement which cited provisional data.
Sales in 2007 increased by 7.6 percent to 5.4 billion euros and core earnings gained 28 percent to 613 million euros.
That figure included a charge of 70 million euros for the redeployment of Beiersdorf's cosmetic logistics activities.
The cosmetics division posted a 7.7 percent gain in sales, owing to stronger demand in eastern Europe, Latin America, Africa and Asia, the statement said.
Final figures are to be released by the group on February 28.
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